When financial statements contain generally accepted accounting principles in the current year that are different from the generally accepted accounting principles used in the preceding year, the auditor will typically make mention of it in the opinion.

Question

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The auditor is required to include a statement in their opinion if there has been a change in accounting principles from the prior year. This is to inform the users of the financial statements about the change and how it may impact the comparability of the financial statements.

When Financial Statements Contain Generally Accepted Accounting Principles in the Current